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Craig Warren Peters, Chief Executive Officer of Getty Images Holdings, Inc. (NYSE:GETY), recently sold a portion of his shares in the company. According to a Form 4 filing with the Securities and Exchange Commission, Peters sold 124,624 shares of Class A Common Stock on March 25 at a weighted average price of $2.12 per share, amid a challenging period that has seen the stock decline over 53% in the past year. This transaction, which was part of a non-discretionary sale to cover tax withholding obligations, amounted to a total of $264,202.
The sale was executed under a Rule 10b5-1 trading plan, which is often used by insiders to plan stock transactions in advance and avoid potential accusations of insider trading. After the sale, Peters retains ownership of 1,262,948 shares of Getty Images, which currently has a market capitalization of $792 million. InvestingPro analysis suggests the stock is trading below its Fair Value, with the company maintaining profitability and a solid 73% gross margin.
The transaction was executed in multiple trades at prices ranging from $2.06 to $2.21, with the reported price reflecting the weighted average sale price. Peters has committed to providing detailed information about the trades upon request to the SEC, the issuer, or shareholders.
This move comes as part of a series of transactions related to the vesting and settlement of restricted stock units and performance-restricted stock units.
In other recent news, Getty Images Holdings Inc. reported strong financial results for the fourth quarter of 2024, with revenue reaching $247.3 million, surpassing forecasts of $245.49 million. The company’s adjusted EBITDA also saw a notable increase of 11.7%, reflecting robust performance. Getty Images has reduced its net leverage to below four times for the first time in over a decade, marking a significant milestone. Additionally, the company is expanding its AI capabilities and content integrations, which are crucial for its strategic growth.
Regarding analyst actions, JMP analysts maintained a Market Outperform rating for Getty Images, with a price target of $34.00, citing strong earnings growth and revenue diversification. Conversely, Citi analysts resumed coverage with a Neutral rating and a price target of $2.45, expressing caution due to declining agency revenues and economic pressures. The anticipated merger with Shutterstock (NYSE:SSTK) is expected to yield significant cost savings and shift towards subscription models, which could enhance Getty Images’ financial performance.
Benchmark analysts adjusted their outlook by lowering Getty Images’ price target from $6.00 to $4.50 but maintained a Buy rating. This revision follows a slight underperformance in the Creative and Editorial segments, though the ’Other’ revenue category exceeded expectations. Despite these challenges, Benchmark raised its 2025 ’Other’ revenue estimate by 18%, suggesting potential for incremental data licensing deals. These developments indicate a period of strategic transition for Getty Images as it prepares for the merger with Shutterstock.
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